Federal regulators cut a deal with 10 major banks to “speed up housing relief,” major news outlets reported earlier this week – but to exactly no one’s surprise, the amount promised to struggling homeowners is a pittance compared with the overwhelming losses sustained during the foreclosure crisis. Read more »
A few dozen rallied in front of the building that houses a branch of PNC bank July 26, demanding that the bank not foreclose on Yin Wong, an elderly Bayview resident who says the bank is foreclosing on her illegally.Read more »
John Avalos introduced a resolution today urging support for homeowners facing foreclosure in San Francisco. The resolution calls for several actions, including suspending all foreclosures until state and federal measures to protect homeowners are in place.
Sponsors of the resolution Avalos, David Chiu, Jane Kim, Eric Mar, and Christina Olague joined a coalition of community organizations to explain the resolution at a press conference.Read more »
People facing eviction and foreclosure often report hardly being given the time of day by banks and lenders. But yesterday, three top Wells Fargo executives flew to San Francisco to meet with Alberto Del Rio, a Bernal Heights resident facing foreclosure.
Del Rio's parents purchased their home in 1973. The home was refinanced multiple times, he says “for a better life” for his family. The most recent refinance, in 2007, was a result of lenders convincing Del Rio’s mother that refinancing would be an easy to pay for some of her retirement. Read more »